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Entity controlled by Michael Lieb closes on three parcel assemblage in North Scottsdale planned for 32 lots

North Scottsdale

By: Daniel Benson; Belfiore Real Estate Consulting

North Scottsdale

According to public record (click here to view affidavit 1 , affidavit 2, affidavit 3), Shea 124 Investments LLC (Michael A. Lieb; Manager) successfully closed a three parcel assemblage in North Scottsdale planned for a 32-lot subdivision.   The assemblage included three parcels with three different sellers.  In total the buyer paid $2,725,000 ($219,164 per acre / $85,156 per lot / $542 per weighted average front foot) for the approximate 12.4 acre site and the deals closed November 18, 2014.

The site is specifically located at the northeast corner of Shea Boulevard and 124th Street in Scottsdale.  Shea 124 Investments LLC has its preliminary plat for the site on the Scottsdale Development Review Board’s November 20, 2014 agenda (click here to view the preliminary plat applicant submittal).  The developer hopes to subdivide the site into 28 – 53’x120’ & 4 – 90’x270’ lots.

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